VW to invest billions in networked cars, start e-carsharing in Berlin 

Volkswagen plans to invest 3.5 billion euros ($4 billion) in a digital offensive to network its vehicles as e-mobility and digitalization revolutionize the auto industry.

The German carmaker said the investment, spread out until 2025, will help support digital offers and services, which are expected to generate high revenues in the future. VW plans collaborations and takeovers with an eye on achieving the necessary software know-how.

“In order to master this development, we need to re-invent the car to a certain extent,” brand strategy head Michael Jost said.

Volkswagen also has plans to launch a sub-brand called “We Share” that offers a completely electronic vehicle for carsharing.

The launch is expected in the second quarter of 2019 in Berlin with a fleet of 1,500 e-Golf models, later followed by 500 models of the e-Up compact car.

The initiative will be expanded to other large German cities, and then to European markets and select US and Canadian cities beginning in 2020.

Source: dpa